Facebook

It's no secret that Facebook's IPO will feed one of the most troubling trends in America today: the extreme concentration of wealth in the hands of a tiny elite. As I point out in a new paper, co-authored with Jack Temple, Mark Zuckerberg is now worth more than the bottom fifth all U.S. households...

Is the Facebook initial public offering – one of the largest IPOs in history – a symbol of American prosperity? In some sense, yes. A technological innovation that began as an extracurricular obsession of a brilliant college student has now become a global “social utility” with 900 million users....